OMB Number: 3235-0070

Expires: July 31, 2011

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[ x ]	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
x	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: March 31, 2010
For the quarterly period ended: June 30, 2010
[ ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934
o	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934
For the transition period from _________________ to _________________ Commission File Number: 0-49942
STRATECO RESOURCES INC
(Exact name of issuer as specified in its charter)
Québec, Canada		00-0000000
(State or other jurisdiction of incorporation)		(IRS Employer Identification No.) or organization
1225, Gay-Lussac Street, Boucherville, Québec, Canada J4B 7K1, (450) 641-0775
(Address and telephone number of registrant’s principal executive offices and principal place of business)
(Former name, former address and former fiscal year, if changed since last report): N/A

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes o No

~~[ X~~Indicate ]by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). o Yes x No

[ ] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

[ ] Yes

[ X ] No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer [o ] Accelerated filer [x ~~X ]~~ Non-accelerated filer [o ] (Do not check if a smaller reporting company) Smaller reporting company ~~[ ]~~o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). o Yes x No

~~[ ]~~APPLICABLE ~~Yes~~ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

~~[ X~~PROCEEDINGS ]DURING NoTHE PRECEDING FIVE YEARS

~~APPLICABLE~~Check ~~ONLY~~whether TOthe ~~ISSUERS~~registrant ~~INVOLVED~~filed ~~IN BANKRUPTCYPROCEEDINGS~~all ~~DURING~~documents ~~THE~~and ~~PRECEDING~~reports ~~FIVE~~required ~~YEARS~~to be filed by Section l2, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. o Yes o No

Check whether the registrant filed all documents and reports required to be filed by Section l2, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.

[ ] Yes

[ X ] No

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APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:

122,695,906 Common shares as of ~~May~~August 54, 2010

_____________________________________________________________________________________

PART I- FINANCIAL INFORMATION

Item 1 - Financial Statements

Pursuant to Regulation 13A Reports of issuers of securities registered pursuant to section 12, Reg. §240.13a-13 ( c ) (2) (i) (ii), the Company does not need to file Part 1 Financial Information for the period ending ~~March~~June 3130, 2010 for the following reasons:

The registrant is not in the production stage but is engaged primarily in the exploration for the development of mineral deposits other than oil, gas or coal; and

b) The registrant has not been in production during the current fiscal year or the two years immediately prior thereto; and

c) The registrant has not ~~been~~ inreceived ~~production~~any ~~during~~receipts from the ~~current~~sale ~~fiscal~~of ~~year~~mineral products or from the ~~two~~operations ~~years~~of ~~immediately prior~~mineral ~~thereto;~~producing ~~and~~properties since it does not sell mineral products nor conduct operations of mineral producing properties.

c)The Company qualifying as a Canadian foreign private issuer will prepare the first annual statements in compliance with IFRS for the year ending December 31, 2011.

The registrant has not received any receipts from the sale of mineral products or from the operations of mineral producing properties since it does not sell mineral products nor conduct operations of mineral producing properties.

Item 4 - Controls and Procedures

A. Disclosure Controls and Procedures

Disclosure Controls and Procedures

The Company’s management, including the President and Chief Executive Officer, and the Chief Financial Officer, have conducted an evaluation regarding the effectiveness of disclosure controls and procedures (as defined in Rule 13a-15(e) or 240.15d-15(e) of the Securities and Exchange Act of 1934 as amended). As of the end of the period, covered by the report, based on the evaluation of these controls and procedures required by paragraph (b) of §240.13a-15 or §240.15d-15, the Chief Executive Officer and the Chief Financial Officer, concluded that the disclosure controls and procedures are effective.

B. Changes in Internal Control Over Financial Reporting

~~Changes~~The inCompany’s ~~Internal Control~~management, ~~Over~~including the President and Chief Executive Officer and the Chief Financial ~~Reporting~~Officer, did not identify any change in the issuer’s internal control over financial reporting in connection with the evaluation required by paragraph (d) of §240.13a-15 or 240.15d-15 of this chapter, that occurred during the issuer’s second fiscal quarter, that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting.

The Company’s management, including the President and Chief Executive Officer and the Chief Financial Officer, did not identify any change in the issuer’s internal control over financial reporting in connection with the evaluation required by paragraph (d) of §240.13a-~~15 or 240.15d~~3-15 of this chapter, that occurred during the issuer’s third fiscal quarter, that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting.

PART II-OTHER INFORMATION

Forward-looking Statements

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Certain statements, including estimates, projections, statements relating to the business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934.

The Company intends such forward-looking statements to be covered by the Safe-Harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those Safe-Harbor provisions. The Company bases its Forward-looking statements on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. The management ability to predict results or the actual effect of plans or strategies is inherently uncertain. There can be no assurance that such statements will prove to be accurate. Factors that could cause future results, activities and events to differ materially from those expressed or implied by such forward-looking statements include the volatility of uranium prices, risks inherent in the mining industry, uncertainty in the estimation of mineral resources and additional financial requirements, as well as the Company’s ability to secure such financing.

Item 1A - Risk Factors- in Canadian Dollars

For the period between ~~January~~April 1, 2010 and ~~March~~ 31June 30, 2010, the Company does not have any material change to report from risk factors as previously reported in the Company’s Form 10-K for the fiscal year ended December 31, 2009.

As at ~~March~~June 3130, 2010, ~~the~~ Company’s ~~has a~~ cash and equivalents balance was of $123,~~363~~845,~~918~~881 ($321,065 as at December 31, 2009) to settle current liabilities of $52,~~824~~670,~~863~~805 ($1,854,116 as at December 31, 2009).

Given the Company’s available ~~liquid~~ liquidity resources as compared to the timing of payments of the liabilities, management assesses the Company’s liquidity risk to be moderate. Management seeks additional financing through the issuance of new equity instruments to continue its operations, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future.

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds – In Canadian dollars

Unregistered Sales of Equity Securities

As already fully detailed in Form 10-K for the exercise ended December 31, 2009 in Part II, Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities at pages 59 and 60, the Company realised a private placement for a financing in the amount of $15M on January 27, 2010 in Québec, Canada, exempted from registration.

~~Pursuant~~The toCompany ~~the~~did ~~flow-through~~not ~~placement~~conclude ~~of December~~any 8,new ~~2009~~private ~~also~~or ~~fully~~public ~~detailed~~offering ~~in Form 10-K for the exercise ended December 31, 2009 in Part II, Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases~~ of ~~Equity~~securities ~~Securities~~during ~~at page 59, as at March 31, 2010,~~ the ~~exploration work that had to be undertaken in the amount of $2,500,000 were incurred and paid~~period.

Exploration and Use of Proceeds on Exploration- in Canadian dollars

HIGHLIGHTS

The sustained efforts and work of the Company’s ~~had~~team athroughout ~~very,~~the ~~productive~~second ~~first~~ quarter ~~this~~of ~~year.~~fiscal ~~Once~~2010 were once again, ~~all~~fruitful. The MATOUSH PROJECT is still well placed to become the ~~efforts~~first ofuranium ~~its~~project ~~seasoned~~in ~~team~~Québec ~~were~~to ~~focused on~~advance to the ~~progress~~underground ~~and~~exploration ~~development~~stage ofand the ~~Matoush~~first ~~uranium~~to ~~project.~~be ~~These~~realized ~~efforts generated~~by ~~results~~a so-called junior company in Canada in this cycle, ~~and~~meaning ~~the~~in ~~Company~~nearly is25 ~~now~~years. ~~hopeful~~The ~~that~~MATOUSH itPROJECT ~~will~~is ~~obtain~~progressing ~~the licence~~well ~~allowing~~on itall tofronts, ~~begin~~whether ~~excavating~~it ~~the~~be exploration, ~~ramp~~engineering byand ~~the~~environmental ~~fall~~studies, ~~of 2010.~~communications or finance.

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~~The~~In ~~year~~terms ~~2010~~of ~~began~~exploration, ~~with~~ the ~~closing~~Company ofis ~~a $15~~still ~~million~~in ~~financing~~the onmidst ~~January~~of ~~27,~~the ~~despite~~largest ~~the~~surface ~~difficulties~~program inundertaken to date on the ~~financial markets.~~MATOUSH ~~The~~PROJECT, ~~private~~consisting ~~financing~~of ~~was~~120,000 ~~subscribed~~metres byof ~~Sentient~~drilling ~~Executive~~over GPtwo ~~III, Limited~~years (~~"Sentient"~~2010-2011),. anIn ~~independent~~the ~~equity~~second ~~fund~~quarter, ~~that~~the ~~manages~~Company ~~over~~succeeded ~~US $1.3 billion~~ in ~~natural~~sustaining ~~resource~~a ~~sector~~good drilling ~~investments,~~rate ~~acting~~with ~~for~~essentially ~~two~~a ~~funds~~single ~~from~~operating ~~Cayman Islands.~~drill, ~~The~~and ~~Company~~despite ~~continues~~difficult tologistics ~~enjoy~~caused anby ~~excellent~~the ~~financial position~~early, ~~with working~~sudden ~~capital~~thaw. ofIn ~~$18~~all, ~~million~~12,522 atmetres atwere ~~March~~drilled ~~31,~~in ~~2010.~~23 holes.

OnIn ~~January 13~~addition, ~~the~~interpretation ~~first~~of ~~phase~~the results of the ~~largest~~ ~~surface~~airborne ~~drilling~~geophysical ~~program~~survey ~~yet~~by ~~began~~Terraquest onLtd. ~~the~~(“Terraquest”) ~~Matoush~~in ~~project~~March 2010, ~~consisting~~led ~~of 120,000~~to ~~metres~~the development of ~~drilling~~a ~~over~~new ~~two~~geological ~~years~~model. ~~(2010~~The advanced-~~2011).~~technology ~~Some~~survey ~~14,200~~covering ~~metres~~the ~~have already~~entire ~~been~~MATOUSH ~~drilled~~PROJECT, ~~since~~including the ~~beginning~~MATOUSH, ofMATOUSH ~~this~~EXTENSION, ~~first~~ECLAT ~~phase,~~and ~~with~~PACIFIC ~~most~~BAY-MATOUSH ofproperties, ~~the holes~~led ~~drilled~~to onthe ageneration ~~200~~of Matoush-~~metre~~type ~~spacing.~~drill targets.

OnIn ~~March~~terms 3of engineering, ~~Terraquest~~the ~~Ltd.~~Company’s ~~(“Terraquest”) began~~team ~~flying~~continued ato ~~high-resolution~~work ~~electromagnetic~~very ~~(XDS-VLF~~hard ~~EM)~~to ~~airborne~~advance ~~survey. This~~the ~~advanced~~various ~~technology~~files ~~survey,~~related ~~which~~to isthe ~~aimed~~underground atexploration ~~testing~~program. ~~the~~One ~~hypothesis~~ of ~~the presence~~these ofis ~~high-grade~~the ~~mineralized~~construction ~~zones~~of ~~along~~an aaccess ~~preferential~~road ~~north-south~~for ~~axis, was completed March 12. It covered~~ the ~~entire~~landing ~~MATOUSH PROJECT~~strip, ~~including~~which ~~the MATOUSH,~~is ~~MATOUSH~~going ~~EXTENSION,~~particularly ~~ECLAT and PACIFIC BAY-MATOUSH properties~~well. ~~The final interpretation of this survey will be performed over the coming weeks.~~

InThe ~~the~~Company ~~first~~also ~~quarter,~~received ~~the~~a ~~Company~~series ~~announced~~ of questions from the ~~update~~Canadian ofNuclear Safety Commission (“CNSC”), the ~~Preliminary~~Federal ~~Assessment~~Environmental ~~for~~and ~~its~~Social ~~MATOUSH~~Impact ~~PROPERTY.~~Review ~~The~~Panel-South ~~scoping study~~(“COFEX”) ~~update~~and ~~was~~the ~~prepared~~Provincial byEnvironmental ~~Scott~~and ~~Wilson~~Social ~~Roscoe~~Impact ~~Postle~~Review ~~Associates~~Committee ~~Inc.~~of Québec (“~~Scott Wilson RPA~~COMEX”) ~~with~~requesting ~~the~~that ~~participation~~certain aspects of ~~Melis~~the ~~Engineering~~MATOUSH ~~Ltd.~~PROJECT ~~(“Melis”)~~environmental impact study for ~~ore processing~~the ~~and~~underground SDexploration ~~Energy~~phase ~~Associates~~be ~~Ltd~~expounded or completed. ~~(“SD~~The ~~Energy”)~~Company ~~for~~responded ~~marketing~~directly to some of the questions and ~~price determination~~designated various consultants to answer the others appropriately. The ~~update,~~Company ~~which~~has ~~once~~already ~~again~~sent ~~demonstrates~~its ~~the~~responses ~~strong~~to ~~economics~~the of CNSC; the ~~MATOUSH~~COFEX ~~PROJECT,~~responses ~~can~~should be ~~found~~ready onby early August and the ~~Company’s~~COMEX ~~website~~responses ~~(www.stratecoinc.com)~~at ~~and~~the onbeginning ~~SEDAR~~of ~~(www~~the fall.~~sedar.com).~~

~~Extensive~~Finally, ~~engineering~~communications ~~work~~with ~~was~~the ~~also~~Mistissini ~~done~~Cree in community and the ~~first~~community ~~quarter~~of toChibougamau ~~prepare~~were ~~the~~significantly ~~underground~~strengthened ~~exploration~~in ~~program~~May ~~that~~and ~~will~~June ~~begin in~~by the ~~fall~~organization of ~~2010,~~a ~~provided~~number ~~all~~of meetings at different levels. These meetings enabled the ~~required~~Company ~~permits~~to ~~have~~inform ~~been~~the ~~obtained.~~public ~~The consultants~~on ~~retained~~the bydevelopment of the ~~Company~~MATOUSH PROJECT, ~~including~~and ~~Golder~~to ~~Associates~~respond ~~(“Golder”)~~to the questions and ~~SENES~~ ~~Consultants~~concerns ~~Limited~~raised. ~~(“SENES”)~~Aside from the public information meetings, ~~proceeded~~which ~~with~~were ~~their~~a ~~mandates~~highlight of the second quarter, ~~including~~ another noteworthy event was the ~~preparation~~organization of a ~~property~~major ~~work~~meeting ~~memo,~~in ~~translation~~Mistissini ofwith ~~reports~~representatives ~~and~~of ~~an application~~the ~~for~~various anentities, ~~authorization~~particularly ~~certificate~~the toCree ~~expand~~Human ~~the~~Resources ~~camp~~Development (“CHRD”) and the ~~drinking~~ Local Environment Department in Mistissini. The second quarter was therefore marked by numerous initiatives aimed in particular at supporting and ~~waste~~consolidating ~~water~~relations ~~treatment~~with ~~system~~local communities.

In addition, with regard to the application filed on November 6, 2009, for a licence to begin excavating the exploration ramp, the Canadian Nuclear Safety Commission (“CNSC”) sent the Company a first set of questions in January 2010, to which various consultants are now responding. Work was also done on number of other files during the first quarter, including the construction of the landing strip, the four-season road and new buildings, and winter road maintenance. FINANCING

~~Throughout~~As ~~the~~already ~~first~~fully ~~quarter,~~detailed ~~the~~in ~~Company continued~~Form ~~its~~10-K ~~efforts~~for tothe ~~maintain~~exercise ~~good~~ended ~~community~~December ~~and~~31, ~~investor~~2009 ~~relations,~~in ~~to inform~~Part ~~the~~II, ~~public~~Item on5: ~~uranium-related~~Market ~~issues~~for ~~and~~Registrant’s toCommon ~~respond~~Equity, toRelated ~~the~~Stockholder ~~public’s questions~~Matters and ~~concerns.~~Issuer ~~The~~Purchases ~~Company~~of ~~also~~Equity ~~met~~Securities ~~with~~at ~~various~~pages ~~representatives~~59 ofand 60, the ~~Cree~~ ~~community~~Company ~~and~~realized ~~the~~a ~~towns~~private ofplacement ~~Chibougamau~~for ~~and~~a ~~Chapais~~financing toin ~~support~~the ~~and strengthen~~amount ~~communications.~~of ~~The~~$15M ~~Company~~on ~~also~~January ~~organized~~27, ~~information~~2010 ~~sessions~~in ~~to learn~~Québec, ~~about~~Canada, ~~community~~exempted ~~concerns~~from registration.

~~Various~~The ~~authorities,~~Company ~~including~~used during the ~~Conférence~~ ~~régionale~~period ~~des~~ended ~~élus~~June de30, ~~la Baie-James (“CREBJ”) and Learning Together~~2010, ~~took~~net ~~the~~proceeds ~~initiative~~ of ~~organizing information activities in~~ the ~~municipalities~~ ofprivate ~~Mistissini~~placement ~~and~~to ~~Chibougamau-Chapais.~~finance ~~This~~exploration ~~included a visit by four aboriginal chiefs from Saskatchewan~~work, ~~who~~mainly ~~shared their experiences of living in proximity to a uranium mine. All these initiatives are beneficial~~ for the ~~dissemination~~ acquisition of ~~information~~materials ~~to the communities involved,~~ and ~~help~~infrastructure ~~support social~~for ~~acceptance~~its ofMATOUSH ~~the Matoush uranium project~~PROJECT.

In terms of investor relations, Guy Hébert, the Company’s ~~also~~President ~~uploaded~~and ~~the~~Chief ~~new~~Executive ~~version of~~Officer, ~~its~~made ~~website~~many presentations in the second quarter, ~~which~~particularly in Montreal and Toronto. Company management is ~~now~~also ~~more~~continuing ~~accessible,~~to ~~powerful~~meet with potential Canadian and ~~user-friendly~~foreign partners. Early in the quarter, the Company also retained the services of Renmark Financial Communications Inc. to assist in its investor relations activities.

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EXPLORATION

The technical data in the following text is based on a report entitled: Technical Report on the Mineral Resources Update for the Matoush Uranium Project Central Quebec, Canada, dated September 16, 2008, prepared in accordance with National Instrument 43-101 respecting standards of disclosure for mineral projects (“NI 43-101”). This data has been reviewed by the authors of the report, David A. Ross, M. Sc. P. Geo. and R. Barry Cook, P. Eng. of Scott Wilson Roscoe Postle Associates Inc. (“Scott Wilson RPA”). The Matoush Mineral Resources Update dated September 18, 2009 was prepared and reviewed by David A. Ross, M. Sc. P. Geo. of Scott Wilson RPA and is available on the Company’s website at www.stratecoinc.com. The technical data based on recent information has been reviewed by Jean-Pierre Lachance, Executive and Exploration ~~Activities~~Vice President of the Company. All three are qualified persons as defined in NI 43-101.

The technical data in the following text is based on a report entitled: Technical Report on the Mineral Resources Update for the Matoush Uranium Project Central Quebec, Canada, dated September 16, 2008, prepared in accordance with National Instrument 43-~~101 respecting standards of disclosure for mineral projects (“NI 43~~5-101”). This data has been reviewed by the authors of the report, David A. Ross, M. Sc. P. Geo. and R. Barry Cook, P. Eng. of Scott Wilson RPA. The Matoush Mineral Resources Update dated September 18, 2009 has been prepared and reviewed by David A. Ross, M. Sc. P. Geo. of Scott Wilson RPA and is available on the Company’s website at www.stratecoinc.com. The technical data based on recent information has been reviewed by Jean-Pierre Lachance, Executive Vice President of the Company. All three are qualified persons as defined in NI 43-101.

In the following text, covering in details exploration works on the Company’s properties during the period, the letter “e” in “eU3O8” represents the estimated or equivalent value of U3O8 as determined by down-hole calibrated geophysical probing.

Further technical information relating to exploration work on the MATOUSH PROJECT, namely:

(i) The “eU3O8” and “CPS” nomenclatures;

~~The “eU3O8”~~(ii) ~~and~~Exploration ~~“CPS”~~program ~~nomenclatures;~~analysis methods;

(iiiii) Sampling techniques;

~~Exploration~~(iv) ~~program~~Quality ~~analysis~~controls ~~methods~~for the results obtained by the gamma probe; and

(~~iii~~v) Laboratory chemical analyses,

~~Sampling~~can ~~techniques;~~also be found in the Quality Assurance and Quality Control-QA/QC section of the Company’s website, at www.stratecoinc.com and in Form 10-K for the fiscal year ended December 31, 2009, Item 2: Properties- Summary of uranium exploration analytical procedures and Note 1 entitled: “Detailed Uranium exploration analytical procedures.”

~~(iv)~~For the definition of “mineral resources”, please refer to Form 10-K for the fiscal year ended December 31, 2009, Item 2: Properties-MATOUSH PROJECT A.1. MATOUSH PROPERTY – TECHNICAL REPORT.

Quality controls for the results obtained by the gamma probe; and

(v)

Laboratory chemical analyses,

is available on the Company’s website at www.stratecoinc.com in the This technical description can also be found in the Quality Assurance and Quality Control-QA/QC section of the Company’s website, at www.stratecoinc.com and in Form 10K for the fiscal year ended December 31, 2009, Item 2 Properties- Summary of uranium exploration analytical procedures and Note 1 entitled: “Detailed Uranium exploration analytical procedures.”

For the definition of “mineral resources”, please refer to Form 10-K for the fiscal year ended December 31, 2009, Item 2: Properties-MATOUSH PROJECT A.1. MATOUSH PROPERTY-TECHNICAL REPORT.

Cautionary Note to U.S. Investors concerning estimates of Indicated Resources. This section uses the terms “indicated resources”. We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

Cautionary Note to U.S. Investors concerning estimates of Inferred Resources. This section uses the term “inferred resources”. We advise U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable.

In the second quarter of 2010, a total of 12,522 metres were drilled on the MATOUSH PROJECT (covering the MATOUSH, MATOUSH EXTENSION, ECLAT and PACIFIC BAY-MATOUSH 6properties), as follows: 12,498 metres in 23 holes on the ECLAT property, and 24 metres on the MATOUSH property. No holes were drilled on the MATOUSH-EXTENSION or PACIFIC BAY-MATOUSH properties. In total, 186,927 metres (424 holes) have been drilled on the MATOUSH PROJECT since exploration began in 2006.

AtThe ~~March~~Company ~~31,~~did ~~2010,~~not aconduct ~~total~~exploration ~~of 14,189 metres had been drilled~~ on the ~~MATOUSH PROJECT (covering the MATOUSH~~Apple, ~~MATOUSH EXTENSION~~Mistassini, ~~ECLAT~~Quénonisca ~~and~~or ~~PACIFIC BAY~~Mont-~~MATOUSH~~Laurier Uranium properties), ~~as follows: 11,621 metres~~ in ~~19 holes on~~ the ~~ECLAT~~second ~~property,~~quarter ~~and~~of ~~2,568~~2010 ~~metres~~as init ~~four~~continued ~~holes~~to onfocus ~~the~~its ~~MATOUSH PROJECT.~~efforts ~~No holes were drilled~~ on exploring the MATOUSH~~-EXTENSION~~ ~~and PACIFIC BAY-MATOUSH properties. In total, 174,405 metres (401 holes) have been drilled on the MATOUSH~~ PROJECT ~~since exploration began in 2006~~.

~~The Company did not conduct exploration on the Apple, Mistassini, Quénonisca or Mont~~-~~Laurier Uranium properties in the first quarter of 2010. It continued to focus its efforts on the exploration and development of the MATOUSH PROJECT.~~6-

~~At the beginning of 2010, the Company began an ambitious 60,000-metre drilling program on the~~ MATOUSH PROJECT ~~as a whole, aimed at identifying new mineralized zones. Work started with one drill in operation, to which a second was added on January 27 and a third on February 13.~~

~~Phase~~In 1terms of exploration on the ~~program~~MATOUSH PROJECT, ~~which~~the ~~started~~Company ~~on January~~had 14a ~~and~~very ~~will~~good ~~continue~~second ~~until~~quarter, despite the ~~summer~~early, ~~consists~~almost instantaneous thaw in May. In fact, in less than 72 hours, the Company had to stop using the road leading to the southern edge of ~~drilling~~the onECLAT ~~a systematic~~property ~~200-metre~~because ~~spacing~~of safety and environmental protection concerns. ~~Drilling~~As ~~will~~a ~~focus~~result, two drills stopped working on May 6 and the ~~upper~~third ~~part~~was pulled out of the ~~ACF-4~~ area to work on exploration elsewhere on the property. Since then, ~~which~~the ~~hosts~~Company has continued the ~~MT-22~~work ~~and~~with ~~MT-34~~one ~~zones~~drill in operation. A second drill should resume work in August. A total of 26,711 metres have been drilled on the MATOUSH PROJECT since the beginning of 2010.

~~The~~Apart ~~Company’s~~from ~~objective~~the ~~during~~last ~~this~~24 ~~first phase~~metres isof toa ~~extend~~hole asdrilled ~~far~~at asthe ~~possible~~beginning ~~south~~of April on the MATOUSH property (MT-10-004), all 12,522 metres of exploration drilling in the second quarter were drilled on the ECLAT property, (EC-10-021 to EC-10-042). This brings the ~~adjacent~~ ~~Cameco~~total ~~Corporation~~number of metres drilled on the ECLAT property in 2010 to 24,119 metres.

OnThe ~~March~~exploration 3,strategy ~~Terraquest~~for ~~began~~the ~~flying~~second quarter was to continue definition of the MATOUSH fault on a ~~high~~ 200-~~resolution~~metre ~~electromagnetic~~grid ~~(XDS~~and to follow-~~VLF~~up ~~EM)~~on ~~airborne~~the ~~survey.~~anomalies ~~This~~located ~~advanced technology~~between ~~survey~~lines 110+00S and 118+00S, ~~which~~the isdrilling ~~aimed~~grid atwill ~~testing~~stop 2.3 kilometres from the ~~hypothesis~~southern border of the ~~presence~~ECLAT ~~of high-grade~~property ~~mineralized~~(line ~~zones~~125+00S). ~~along~~These aholes ~~preferential~~also ~~north-south~~allowed ~~axis,~~improved ~~was completed~~mapping onof ~~March~~the ~~12.~~faults Itsub-parallel ~~covered~~to the ~~entire~~Matoush ~~MATOUSH PROJECT~~fault, ~~including~~temporarily designated the ~~MATOUSH,~~ ~~MATOUSH~~East ~~EXTENSION~~1, ~~ECLAT~~East 2 and ~~PACIFIC~~West ~~BAY-MATOUSH~~1 ~~properties,~~faults. ~~for~~Each of these faults hosts a ~~total~~ dike. Despite the fact that preliminary interpretation of 1the structure setting appears to indicate that the uranium anomalies are still associated with the Matoush fault,~~754~~ ~~linear-kilometres~~it is clear that the other dikes also have potential. ~~Mobilization~~Follow-up ~~and~~work ~~demobilization~~was ~~costs~~done ~~were shared~~on ~~with~~the azones ~~neighbouring~~where ~~mining~~the ~~company~~tourmaline alteration was clearly stronger than what had been drilled previously.

The ~~preliminary~~holes ~~raw~~concentrated ~~survey~~between ~~data~~lines ~~showed various~~110+00S ~~anomalies~~and ~~that~~118+00S ~~could~~were beparticularly ~~interpreted~~aimed asat ~~faults~~following ~~that~~up ~~are~~on ~~sub~~holes EC-~~parallel~~09-005, to EC-09-006, EC-08-001 and~~/or~~ ~~convergent~~EC-09-003, ~~with~~which had intersected uranium mineralization worthy of note about six kilometres south of the AM-15 zone. This area is particularly interesting due to two aspects: first, the presence of anomalies along nearly one kilometre of the Matoush fault. ~~The~~is ~~final~~in ~~interpretation~~itself promising, ~~which~~and ~~will be~~second, ~~done~~this byarea ~~MPH~~is ~~Consulting~~located ~~following~~above ~~filtering~~a bybasement ~~Terraquest~~rock transition zone, inwhich ~~combination~~indicates a good potential. ~~with data~~The ~~from~~intersections ~~the~~of ~~previous~~holes ~~high~~EC-~~resolution~~10-027 ~~magnetometer~~and ~~survey~~EC-10-040, ~~will~~drilled ~~allow~~during the ~~positive~~ ~~anomalies~~second toquarter, beattest ~~clearly~~to ~~distinguished~~the ~~from~~potential ~~the~~of ~~negative~~this ~~anomalies~~area.

~~The~~It ~~objective~~must be recalled that there are similarities between the two mineralized areas (EC-09-005/EC-09-006 and AM-15) in terms of ~~this~~degree ~~survey~~of isalteration toof ~~outline~~ the ~~linear~~mineralization ~~geophysical~~in ~~anomalies~~the ~~representing~~shear settings, and proximity to a mafic intrusive in the Matoush fault. Analysis results for holes EC-~~type~~09-005 ~~faults~~and ~~that~~EC-09-006 ~~could also~~proved ~~prove~~revealing toof ~~host~~the ~~large~~potential ~~mineralized~~of ~~zones~~the area. ~~The~~These ~~final~~two ~~interpretation~~holes, ~~should generate~~spaced ~~high~~at 200 metres with a pierce point at the same elevation (-~~quality~~350 ~~drill~~metres), ~~targets~~returned the following results: 0.16% U3O8 over 2.4 metres and 0.11% U3O8 over 1.5 metres (EC-09-005), and 0.15% U3O8 over 1.5 metres (EC-09-006). Hole EC-10-027 was drilled to test the south plunge of Hole EC-09-006, while Hole EC-10-040 was drilled to test the south plunge of EC-09-005.

~~MATOUSH PROPERTY~~Hole EC-10-027 intersected the Matoush fault 80 metres deeper (along the presumed plunge) than EC-09-006. Two 0.5-m thick mineralized zones were intersected, returning analytical grades of 0.3% U3O8 and 0.06% U3O8. An important aspect of this hole is the strong, extensive fuschite alteration typical of the AM-15 zone seen over a 5.0 metre section.

~~The~~Hole ~~holes~~EC-10-040 inintersected the ~~southern~~Matoush ~~extension~~fault of140 ~~the known~~metres ~~mineralized~~deeper ~~zones~~than ~~were~~in ~~drilled~~Hole toEC-09-005, ~~test~~with ~~the~~once ~~potential~~again ofalteration ~~the~~typical ~~strongly anomalous areas identified at the end~~ of ~~the 2009 program~~AM-15, ~~specifically the~~ MT-~~09-036~~22 ~~(0.48% U3O8 over 4.2 m)~~ and MT-~~09-035~~34, ~~(0.19%~~located ~~U3O8~~six ~~over~~kilometres 1farther north.4 m)The ~~areas located~~hole ~~1.4~~returned kma ~~south~~grade of ~~the~~0.03% ~~MT-34~~eU3O8 ~~zone~~over 3. 6 metres.

~~The~~One ~~three~~of ~~holes~~the ~~drilled~~highlights inof ~~this~~exploration ~~area (MT-10-001~~was tothe ~~003)~~receipt ~~did~~of ~~not~~the ~~return~~results ~~any~~of ~~notable~~the ~~intersections despite~~Terraquest ~~the~~airborne ~~alteration~~geophysics ~~present~~survey inflown ~~the~~last ~~holes~~March. The goal of the survey was to define linear geophysical anomalies representing Matoush-type faults that might indicate potential to host large mineralized zones.

~~The fourth hole, MT~~-107-~~004, drilled about 1.0 km farther south (area of Hole MT-09-041(0.06% U3O8 over 0.8 m), returned better results, with an intersection of 0.17% eU3O8 over 0.8 m.~~

The survey was performed using aeromagnetic instrumentation and the associated high-resolution 7electromagnetic (EM): XDS/VLF. The survey data was processed by MPH Consulting, who was mandated to highlight Matoush-type potential targets corresponding to dikes injected in the faults. Following data processing, the targets were tested, most notably with holes EC-10-035 to EC-10-039 which were drilled to the east of the Matoush fault in the southern portion of ECLAT property. All the holes intersected various sizable structures corresponding to the geophysical targets, primarily clayey breccias, but barren of any significant mineralization.

~~ECLAT PROPERTY~~Subsequently, additional processing of the Terraquest data allowed this data to be analyzed with more accuracy. This in-depth, very precise analysis led to the identification of new drill targets. In fact, the continuity at depth can be checked by eliminating certain surface anomalies and compiling the linear magnetic anomalies. This process identified a second series of geophysical targets, all outside the Matoush fault. The discovery of a strong linear magnetic anomaly on surface coinciding with a strong VLF anomaly indicated a strong likelihood that this anomaly is a similar structure to Matoush. The new targets will be tested in the coming weeks.

~~Holes~~On ~~drilled~~the onPACIFIC BAY-MATOUSH property, where the Company has an option to acquire a ~~systematic~~60% ~~200-metre spacing~~interest, prospecting work was done on the north-south belt to the west of the ECLAT ~~property~~South ~~covered~~area. This work led to the discovery of a ~~distance~~three metre anomalous sub-outcropping block measuring up to 1,800 counts per second approximately four kilometres west of ~~about~~the 4Matoush fault.0 kmThis ~~starting~~new, ~~from Section~~previously ~~68+00S~~unexplored area now holds particular interest due to the fact that the geophysical survey data processing discussed earlier revealed the presence of a north-south lineament about four kilometres long containing two clearly identified drill targets. These targets will be drilled early in the third quarter.

The Matoush fault was intersected in each of the holes, thereby confirming its continued presence. With the exception of Hole EC-10-002 located on Section 70+75S, about 3.4 km south of the MT-34 zone, which intersected 0.67% U3O8 over 1.2 m, there were no significant mineralized intersections.

The holes drilled on a 200-m spacing identified one area of interest more than one kilometre long, between sections 75+00S and 87+00S. This area is primarily interesting due to the intensity of the alteration, as well as the presence of dikes running parallel to the Matoush fault. The data from seven holes (EC-10-004 to EC-10-010) indicates that the structural setting is characterized by a series of 2 to 4 sub-parallel deformation corridors (DC) marked by the presence of mafic dikes.

To summarize, to the north of the 75+00S line, a single DC can be seen, corresponding to the Matoush fault, while in the area between sections 77+00S and 84+00S, drilling indicates the presence of three to four DCs, the Matoush fault being the most westerly. The interest of this area is characterized by the presence of fuschite/tourmaline alteration halos with a true thickness of 200 to 250 metres, which is very significant.

This alteration footprint is not seen anywhere else on the project. The alteration present in this area, which is typical of that of the AM-15, MT-22 and MT-34 zones, attests to the potential for the discovery of new mineralized zones.

ASSESSMENT

~~SCOPING~~Scoping ~~STUDY~~Study

During the first quarter, the update of the Preliminary Assessment of the ~~Matoush~~MATOUSH property was completed. The scoping study prepared by Scott Wilson RPA, with the participation of Melis Engineering Ltd. for ore processing and SD Energy for marketing and price determination, once again ~~shows~~showed the strong economics of the MATOUSH PROJECT.

The scoping study is based on the NI 43-101-compliant indicated and inferred resources estimated by Scott Wilson RPA in September 2009. The ~~Scoping~~scoping ~~Study~~study results have been fully disclosed in Form 10-K for the exercise ended December 31, 2009 at Item 2-: Properties in section REVISION OF PRELIMINARY ASSESSMENT, FEBRUARY 2010 at pages 28 to 30.

The full report update can be found on the Company’s website (www.stratecoinc.com) and on SEDAR (www.sedar.com).

The Preliminary Assessment is based in part on inferred mineral resources, and is by definition preliminary in nature. Inferred resources are considered too speculative geologically to have economic considerations applied to them and to be categorized as Mineral Reserves. There is no certainty that the Preliminary Assessment will be realized.

ENGINEERING, PERMITS AND LICENCES

InThe ~~the~~Company’s ~~first~~team ~~quarter,~~is ~~the~~still ~~operations~~working ~~and engineering~~hard ~~department~~to ~~pursued~~complete ~~its~~the ~~activities~~various tostudies ~~prepare~~required for the underground exploration program, ~~set~~which towill begin ~~once~~as ~~the~~soon ~~Company~~as ~~has obtained~~ the ~~required~~ necessary permits. are obtained.

~~The~~Following ~~consultants~~the ~~retained~~October by2009 filing of the Company ~~made~~’s ~~progress~~environmental onimpact study for the MATOUSH PROJECT with the CNSC, the latter gave the Company’s team a ~~number~~list of ~~fronts.~~questions ~~Golder~~aimed ~~undertook~~at ~~the~~expounding ~~preparation~~or completing certain aspects of ~~a technical~~the ~~memorandum~~study. onAll ~~field~~the ~~work~~questions ~~performed~~were atanswered and the ~~end~~responses ofsent to the ~~summer~~CNSC offor ~~2009~~comments. ~~The~~

- 8 -

~~memorandum~~On ~~includes~~April ~~data~~30, ~~on surface water quality~~2010, ~~benthos~~the ~~(group~~Company ofalso ~~aquatic~~received ~~organisms~~a ~~living~~request onfrom ~~the~~COFEX ~~lake~~for ~~bed)~~additional ~~and~~information ~~a number~~on ofthe ~~corrections~~MATOUSH toPROJECT ~~the~~environmental impact study. ~~The~~Some ~~technical~~of ~~memorandum~~the ~~(Addenda A~~questions were sent to the ~~limited~~various ~~environmental~~consultants ~~impact~~involved, ~~assessment~~including ~~for~~Golder ~~the~~Associates ~~Matoush~~(“Golder”), ~~underground exploration~~SENES ~~project)~~Consultants ~~was~~Limited ~~filed~~(“SENES”), onGroup ~~March~~Stavibel 2inc., ~~2010~~Scott Wilson RPA and GENIVAR. ~~Golder~~The ~~also~~other ~~reviewed~~questions ~~the translation~~are ofnow ~~the~~being ~~preliminary~~reviewed ~~impact~~in ~~study~~house ~~that~~and ~~they~~responses ~~helped~~are ~~prepare~~being prepared. This document is expected to be filed in early August 2010.

~~GENIVAR~~On ~~completed~~June an18, ~~application~~2010, ~~for~~the ~~a certificate~~Company ofalso ~~authorizaiton~~received ~~for~~COMEX’s ~~the~~official ~~expansion~~questions ofand ~~the~~comments ~~camp~~on ~~and~~ the ~~waste~~environmental ~~and drinking~~impact ~~water~~study. ~~treatment~~An ~~system.~~earlier ~~The~~meeting ~~application~~had ~~was~~taken ~~filed~~place inon ~~January~~June 9, 2010 ~~at the~~to ~~regional~~discuss ~~office~~these ofquestions with analysts from the Ministry of Sustainable Development, Environment and Parks (“~~MSDEP~~MDDEP”). inThe ~~Rouyn-Noranda.~~questions ~~Additional~~and ~~information~~comments ~~later~~from ~~requested~~the Provincial Committee (COMEX) are by and large the ~~MSDEP~~ ~~was~~same ~~provided~~as the Federal (COFEX) questions. Some of the questions will be sent to the consultants involved, ~~and~~but the ~~file~~Company’s team will respond to most of the questions. The final document is ~~now~~expected ~~complete~~to be filed in September 2010.

~~Finally,~~The public was invited to participate in ~~terms~~public ofinformation meetings on the ~~consultants~~MATOUSH ~~work~~PROJECT, ~~SENES~~ ~~finalized~~which ~~the~~took ~~translation~~place inon ~~French~~May as25 ~~required~~and by26, ~~the~~respectively ~~regulations~~in Mistissini and Chibougamau in ~~Quebec~~ Québec, Canada. ofThe public information meetings were the ~~study~~first ~~sections~~phase onof ~~air~~public ~~quality~~hearings held by COFEX and ~~risk~~COMEX. Representatives from Golder and SENES accompanied the Company’s team to the ~~ecology~~Mistissini and ~~human~~ ~~health,~~Chibougamau inmeetings ~~January~~to ~~and~~provide ~~February~~technical ~~2010~~support during the question periods.

InThe ~~February~~Company’s ~~2010,~~team spent the ~~Company~~past ~~filed~~months meticulously preparing for the ~~French~~ ~~version~~presentation of the results of the MATOUSH PROJECT environmental impact study ~~for~~to ~~the~~local ~~Matoush~~residents ~~uranium~~and ~~project underground~~representatives ~~exploration~~of ~~program at~~ the ~~MSDEP~~various (provincial) and atfederal government bodies as well as representatives of COMEX, COFEX, the ~~Canadian Environmental~~CNSC, ~~Assessment~~Health ~~Agency~~Canada ~~(CEAA)~~and ~~(federal)~~the MDDEP.

In ~~January~~preparation ~~2010,~~for the ~~CNSC~~public ~~issued~~information anmeetings, ~~initial set~~GENIVAR created a 3D animation covering all the stages of ~~questions~~uranium exploration and ~~comments~~the operation of a future uranium mine on the ~~application~~MATOUSH ~~filed~~PROJECT. onThis ~~November~~informative 6video, ~~2009~~about nine minutes long, ~~for a~~was ~~licence~~prepared in response to ~~begin~~specific ~~excavating~~questions ~~the~~from ~~exploration~~COFEX ~~ramp.~~and ~~Various~~was ~~consultants~~used ~~were assigned~~as toan ~~prepare~~introduction aduring ~~prompt~~the ~~response~~public toinformation meetings. It is now posted on the ~~questions~~Company’s website (www.stratecoinc.com).

AThis ~~guideline~~first ~~request~~phase ~~was~~of ~~sent~~the topublic ~~the environmental~~hearing ~~assessments~~process ~~office~~went ofvery ~~the~~well, ~~MSDEP~~particularly ~~for~~as the ~~preparation~~environmental ~~of a preliminary~~ impact study onconcludes ~~exploitation~~that ofthe ~~borrow~~impact ~~pits~~on ~~with~~workers, anearby ~~surface~~residents ~~area greater~~and ~~than~~the 3environment hawould orbe ~~located~~negligible. ~~near~~The ~~water~~information ~~bodies.~~meetings ~~The~~provided ~~authorization~~the ~~certificates~~ opportunity for ~~exploitation~~a ofgood ~~borrow~~exchange ~~pits~~between ~~with~~the aCompany, ~~surface~~representatives ~~area~~ of ~~less~~the ~~than~~various 3government habodies and ~~located~~ ~~more~~local ~~than~~residents 75and mallowed ~~from~~everyone ato ~~water~~ask ~~body~~questions, ~~was~~make ~~received~~comments inand ~~March~~express ~~2010.~~their concerns.

~~For~~In ~~the~~April ~~four-season road~~2010, the Company ~~sent a~~received ~~letter to deputy ministers of~~ the ~~MSDEP~~certificate ~~and the Ministry~~ of Natural Resources and Wildlife (“MRNF”) to inform them of certain changes made following a meeting with representatives of the Quebec transport ministry (“MTQ”) and various other participants. In fact, the Company decided to withdraw its authorization ~~request~~ for the ~~construction~~expansion of ~~a four-season road along~~ the ~~winter~~Matoush ~~road~~camp ~~route~~and ~~within the park (km 0 to km 73.5). It was agreed that within the future national park, the MTQ~~it’s ~~route~~drinking would follow the route of the old winter road. However, the Company maintained its request for a certificate of authorization for the construction of the four-season road on the section of road lying between km 73.5 and ~~130,~~ ~~which~~waste iswater ~~outside~~treatment ~~the park~~system.

~~The~~Following ~~winter~~a ~~road~~directive ~~was~~issued ~~also~~by ~~maintained~~the ~~from~~ COMEV in May 2010, the ~~time~~Company’s itteam ~~opened~~had to provide more detail for some of the studies on ~~February~~the 10exploitation ~~until~~of itthe ~~closed~~borrow pits, on ~~March~~areas 15covering more than three hectares and located near a water body. ~~All~~Poly-Geo Inc. was retained to perform field work and prepare the ~~planned~~ report. The field work was carried out between June 8 and ~~necessary~~16, ~~transports~~2010. ~~took~~The ~~place~~report presents more specific results for the granular deposit (DG-9, ~~despite~~located ~~abnormally~~three ~~mild~~kilometres ~~winter temperatures~~east of the landing strip) to be exploited for the landing strip construction. This document was filed with the MDDEP during the week of July 12, 2010. A full report forming part of the impact study and including the other borrow pits will be filed in August. The document was broken up to accelerate the authorization certification process for the landing strip (DG-9).

The Company ~~also~~was ~~installed~~obliged ato ~~number~~suspend some of ~~new temporary~~its ~~structures~~activities onduring ~~site to meet~~ the ~~needs~~thaw ofgiven the ~~exploration~~rapid ~~program.~~melting ~~These buildings~~and ~~included~~the ~~three~~large ~~mega~~amount ~~domes,~~of ~~two~~mud ~~dormitory~~on ~~trailers~~the ~~and~~construction ~~one~~zone ~~office trailer~~access routes. ANormal ~~new,~~activities ~~higher-capacity~~resumed ~~generator was also added to meet future requirements~~ in ~~2010, and an overhead power line was installed to provide power to the temporary structures~~mid-June.

The ~~contract~~construction ~~for~~of the ~~construction~~access ofroads for the landing strip and the ~~access~~borrow ~~road~~pits ~~was~~were ~~granted~~completed according to ~~Carsa~~plan. ~~Enterprises~~Installation ~~Inc.,~~of a the contractor’s ~~involved~~crushers ~~with~~began. ~~the~~These ~~Cree~~crushers ~~community~~will ~~from~~be ~~Mistissini.~~used ~~Construction~~to ofproduce the ~~landing~~ ~~strip~~materials ~~access~~required ~~road~~for ~~began~~construction inof the ~~first~~landing ~~quarter~~strip, and ~~everything~~all ~~should~~the ~~be completed~~permits infor the ~~third~~landing ~~quarter~~strip ofwere ~~2010~~obtained from the various ministries. The authorization certificate was issued on June 21, 2010.

In the first quarter, the Company required the services of 10 new workersfrom a management company.. As at March 31, the team consisted of 38 workers , including 19 at the Matoush camp and 19 at the head office. -9-

-Some 9drainage -work had to be done near the surface facilities to accelerate ground dewatering.

~~COMMUNITY~~On ~~AND~~June ~~INVESTOR~~30, ~~COMMUNICATIONS~~2010, there were 38 members of the Company’s team which is comprised of 18 at the Matoush camp and 20 at the corporate office.

InWithin the ~~first~~framework ~~quarter~~of its occupational health and safety program, the Company ~~continued to~~increased ~~take~~ the ~~steps~~number ~~required~~of controls to ~~establish~~avoid ~~and~~incidents ~~maintain~~on ~~good~~the ~~relations~~project ~~with~~site. Many measures were taken, including the ~~First~~ ~~Nations~~holding of occupational health and ~~James~~safety ~~Bay~~meetings ~~residents~~for all workers and tocontractors ~~ensure~~working ~~that~~on ~~all~~the site. Inspections of the contractors work ~~and activities~~areas ~~performed~~are inalso ~~relation~~performed tomore ~~the~~frequently, ~~MATOUSH~~and ~~PROJECT~~a ~~remained~~number ~~part~~ of anhealth ~~open~~ and ~~transparent~~safety ~~process~~documents have been prepared and distributed.

~~The~~COMMUNITY Company also took number of initiatives to support and strengthen its relations with the municipalities of Mistissini, Chibougamau and Chapais. It opened offices in Mistissini and Chibougamau, created the position of director of community relations and appointed a liaison officer from the Cree community to provide a direct link between the Company and the residents involved and offer residents local access to information on the various issues related to the MATOUSH PROJECT. The Company also organized information sessions to learn about community concerns.COMMUNICATIONS

InThe ~~the~~second ~~first~~ quarter, ~~the~~was ~~Company~~very ~~continued to~~busy ~~promote~~and ~~the~~productive ~~development~~in terms of ~~harmonious relations with the Mistissini Cree~~ community. ~~Two~~communications ~~meetings~~and ~~were~~relations ~~held~~ in ~~February,~~addition ~~one~~to ~~with~~ the ~~Coonishish~~formal ~~family and~~public ~~another~~hearings ~~with~~discussed ~~the~~above. ~~chief~~The ofCompany ~~the~~has ~~Cree~~apparently ~~Nation~~met ofits ~~Mistissini~~objective, towhich ~~inform~~is ~~them~~to ~~of the~~give ~~latest~~particular ~~development~~importance onto ~~the~~openness ~~MATOUSH~~and ~~PROJECT~~transparency, ~~and~~transmitting ~~reaffirm~~ the ~~Company’s~~information ~~desire~~ and knowledge required to ~~maintain~~ensure ~~good~~that ~~relations~~the ~~with~~public better understands the ~~community.~~uranium industry.

~~In addition~~First, ~~various~~with ~~authorities,~~the ~~including~~ full-time presence of a Director of Community Relations at the ~~CREBJ~~Company’s offices in Mistissini and ~~Learning~~Chibougamau, ~~Together~~working with an assistant, ~~took~~who ~~the~~is ~~initiative~~also a member of ~~organizing~~the ~~information activities~~Cree incommunity, the ~~municipalities~~number of ~~Mistissini~~meetings ~~and~~with ~~Chibougamau-Chapais~~local residents has multiplied. ~~The Company~~In ~~encourages~~early ~~this~~May, ~~type~~a tour of ~~activity,~~the astrap itcabins ~~leads~~from Temiscamie to aMistissini ~~better~~took ~~understanding of~~place ~~the~~to ~~issues~~distribute ~~surrounding~~information ~~uranium~~on ~~exploration~~the MATOUSH PROJECT and ~~mining~~answer residents’ questions, ~~among~~in ~~other~~English ~~things~~and Cree. ~~It is~~The ~~then~~“personalized” ~~much~~meetings ~~easier~~were ~~for~~very ~~residents~~well toreceived, ~~arrive~~and atallowed athe ~~precise~~Company ~~understanding~~to ofhear about the ~~facts~~ ~~surrounding~~concerns of the ~~uranium~~local ~~industry~~population.

~~Notable~~A ~~among~~communications ~~these~~tool ~~initiatives~~ was ~~the visit~~also bydeveloped ~~four aboriginal chiefs from Saskatchewan~~ to ~~better~~enable ~~understand~~ the ~~realities~~ ofCompany ~~living~~to ~~near~~obtain anadditional ~~uranium mine. Organized by Chief John Longchap and Learning Together, these~~ information ~~sessions had a major positive impact~~ on ~~local~~ ~~residents.~~land Inuse ~~fact,~~by the ~~chiefs,~~Cree ~~who~~community ~~represent~~around the ~~Canadian~~MATOUSH ~~communities most~~PROJECT. ~~directly~~A ~~concerned~~questionnaire bywas ~~uranium~~distributed ~~mining,~~to ~~were unequivocal about~~ the ~~impacts~~tallymen ~~of uranium~~near ~~mines on health and~~ the ~~environment:~~MATOUSH ~~after~~PROJECT 50to ~~years~~determine oftheir ~~uranium~~habits ~~mining, the~~in ~~health~~terms of ~~their communities~~hunting, ~~the~~fishing ~~environment, water, game~~ and ~~fish~~other ~~was intact,~~traditional ~~even~~activities. ~~with~~Various aindividual ~~uranium~~follow-up ~~mine~~meetings ~~less~~were ~~than~~also 30held kmto ~~away.~~identify ~~Their~~the ~~respective communities~~more ~~also~~active ~~enjoy~~zones ~~the~~in ~~direct~~each ~~benefits~~trapping ~~of uranium mining~~area.

~~Also~~Through the ~~Company~~Regional ~~uploaded~~Conference ~~its~~of ~~new~~Elected ~~website in~~Representatives ~~mid-March.~~of ~~The~~the ~~website~~James ~~was~~Bay ~~optimized~~(CRÉBJ), soCompany asrepresentatives towere bethen ~~more~~invited ~~accessible,~~to ~~powerful and~~present ~~user-friendly~~the inMATOUSH ~~order~~PROJECT development to ~~inform~~elected officials of the ~~public~~James ~~more~~Bay ~~effectively~~Territory. ~~The~~This ~~Company also~~meeting ~~acquired~~led ato ~~new~~an ~~management~~interesting ~~tool~~exchange that ~~allows~~allowed itcritical toinformation ~~update~~on the ~~site~~project ~~regularly~~to be communicated. ~~Henceforth~~ Once more, the ~~public~~Company ~~will~~was ~~have~~able ~~fast,~~to ~~easy~~respond ~~access~~ to ~~up-to-date~~the ~~documentation published~~questions byraised while taking note of the ~~Company~~comments and concerns of local elected officials.

OnThe ~~the~~Company ~~investor~~also ~~relations~~encourages ~~front,~~local ~~several members~~community ofinitiatives ~~the Company’s team travelled~~ to ~~Toronto~~provide ininformation ~~the~~on ~~first~~uranium ~~quarter~~exploration ~~for~~and ~~the meeting~~mining. ofIn the ~~Prospectors~~second ~~and~~quarter, ~~Developers~~on ~~Association~~May of12 ~~Canada (PDAC) from March 7 to 10. The President~~ and ~~Chief~~13, ~~Executive~~information ~~Officer~~evenings ~~made~~were aorganized ~~presentation outlining~~by the ~~reasons~~“uranium tocommittee” ~~invest~~of in the ~~Company.~~CRÉBJ Hein ~~also~~Chapais ~~travelled~~and toChibougamau ~~Europe~~in ~~from February~~Québec, 1Canada. toThis 5type ~~and~~of toactivity ~~Florida~~makes ~~from~~it ~~February~~much 28easier tofor ~~March~~local 3communities to ~~attend~~acquire ~~the~~an ~~Global Metals~~accurate &understanding ~~Mining~~of ~~Conference, and gave media interviews to inform investors and~~ the ~~public~~facts onsurrounding the ~~MATOUSH~~uranium ~~PROJECT developments~~industry.

~~All~~Company ~~these~~representatives ~~initiatives~~then ~~were~~participated ~~beneficial~~in to a number of meetings in Mistissini and Chibougamau throughout the ~~dissemination~~month of ~~information~~June, tomost ~~stakeholders~~notably with the James Bay Joint Action Mining Committee, the Ruée vers le Nord, (Lure of the North), the Director-General of Mistissini, the CHRD and ~~social~~the ~~acceptance~~Local Environment Department for Mistissini. All these meetings were part of the Company’s communications plan, which aims, among other things, to include local communities in the MATOUSH PROJECT development. ~~They~~The ~~also~~subjects ~~helped~~discussed ~~support~~included ~~open~~the creation of a “uranium committee”, ~~ongoing~~notably ~~communication~~authorized ~~with~~by ~~local aboriginal~~the Canadian Environmental Assessment Agency (CEAA) and ~~non-native~~headed ~~communities,~~by ~~investors,~~the ~~regulatory~~Local ~~authorities~~Environment Department for Mistissini. This committee was created to involve people from the community in the decision process for uranium exploration and eventual mining in the ~~general~~ ~~public~~territory. The Company will only participate in some of the committee meetings to allow the committee as much latitude as possible with regard to the matters discussed.

~~STRATEGY AND ACTION PLAN~~-10-

~~The~~In ~~Company’s~~short, ~~highly~~all ~~qualified~~these ~~team~~initiatives ~~plans to~~show ~~sustain~~that ~~and~~the ~~accelerate~~Company ~~its~~is ~~efforts~~working to ~~make~~inform the ~~MATOUSH~~public ~~PROJECT~~on the ~~first uranium~~nature ~~project~~of inits ~~Quebec~~work toand ~~advance~~the related issues. The Company’s efforts are clearly contributing to the ~~underground~~social ~~exploration~~acceptance ~~stage,~~of ~~and~~ the ~~first~~MATOUSH toPROJECT, beas ~~realized~~well byas athe ~~so-called~~maintenance ~~junior~~of ~~company~~good inrelations ~~Canada~~with inlocal ~~this~~native ~~cycle~~and non-native residents, ~~meaning~~ ininvestors, ~~nearly~~government 25bodies ~~years.~~and the general public.

-Strategy 10and -action plan

ToFor dothe ~~this~~coming months, the Company’s team is ~~pursuing~~determined ~~is efforts~~to continue rigorously working to obtain the licence required to ~~begin~~start ~~excavation of~~ the ~~exploration ramp~~MATOUSH byPROJECT ~~the~~underground ~~fall~~exploration ~~of 2010~~program. ~~All~~Furthermore, ~~the documents required for the licence have been completed and filed~~ with the ~~regulatory~~largest ~~bodies.~~drilling ~~The~~program ~~next~~ever ~~step~~conducted ~~is to present the environmental impact study~~ on the MATOUSH PROJECT, atthe ~~public~~Company ~~hearings~~intends to beonce ~~held in~~again ~~Mistissini~~significantly ~~and~~increase ~~Chibougamau~~the onuranium ~~May~~resource 25on ~~and~~its ~~26,~~MATOUSH ~~2010~~property.

~~The~~It ~~Company~~must isbe ~~very~~recalled ~~optimistic~~that ~~about~~with the ~~public~~ ~~hearings~~drilling program underway, aswhich ~~its~~could ~~team~~reach is120,000 ~~well~~metres ~~prepared~~over ~~and~~the next two years (2010-2011), the ~~environmental~~Company ~~impact~~plans ~~study presents~~to ~~positive~~establish ~~results~~a potential of 60 million pounds of U3O8. Intensive, ~~concluding~~sustained ~~that~~exploration work will take place throughout the ~~impact~~next quarter on ~~workers~~the MATOUSH PROJECT properties, ~~local residents~~mainly ~~and~~on the ~~environment~~ECLAT ~~are~~property, ~~negligible~~as well as the PACIFIC BAY-MATOUSH property.

ToIn ~~accelerate~~addition, ~~the~~work ~~process~~on construction of ~~obtaining~~the ~~a licence~~landing ~~for~~strip ~~construction~~will ofbe ~~the~~completed ~~mine,~~over the ~~Company~~next ~~plans~~four tomonths. ~~begin~~This ~~environmental studies~~will infacilitate ~~2011~~the ~~for~~transport of the ~~construction~~manpower ofand equipment required to advance operations at the ~~tailings~~MATOUSH ~~pond~~PROJECT site.

In ~~terms~~relation ofto ~~exploration,~~ the ~~Company~~Matoush ~~began its~~underground ~~largest~~exploration ~~drilling~~ program tolicence, ~~date~~the onCompany’s ~~the~~team ~~MATOUSH~~will ~~PROJECT.~~continue Into ~~addition~~respond to ~~drilling~~ onquestions afrom ~~systematic~~COFEX ~~200-metre~~and ~~spacing,~~COMEX to provide the ~~Company~~additional ~~will~~information ~~drill~~required ~~around~~for the ~~high-potential~~ ~~area~~environmental ~~identified~~impact instudy. ~~2009~~As ~~(EC-09-05~~indicated ~~and~~above, ~~06).~~all ~~The Company~~the isinformation ~~confident~~should ~~that~~be ~~this~~available ~~exploration~~by ~~work~~early ~~will~~fall. ~~enable~~In itorder to ~~increase~~accelerate the ~~uranium~~ ~~resource~~licensing onprocess ~~the~~for ~~MATOUSH~~mine ~~PROJECT. This program of 120~~construction,~~000~~ ~~metres~~the ~~of drilling~~Company ~~over~~plans ~~two~~to ~~years~~begin ~~(2010-2011) should also determine~~ the ~~maximum~~environmental ~~capacity~~ studies required for ~~the~~tailings ~~Matoush~~pond ~~ore~~construction ~~processing~~in ~~plant~~2011.

In reason of the Company’s needs for specialised services in fiscal and accounting matters related to its expansion, the Company gave notice on March 23, 2010 to Petrie Raymond, LLP, Chartered Accountants (Petrie Raymond), which were the Auditors of the Company since 2004, of the Change of Auditors. During the quarter, the Company reported on Form 8-K dated March 30, 2010 as amended on April 7, 2010 on Form 8-KA2, the Notice of Change of Auditors and the response of Petrie Raymond. On May 27, 2010, the Company proposes in its Management Information Circular produced as Exhibit 22, to shareholders at the Annual and extraordinary Assembly of Shareholders to nominate PricewaterhouseCoopers, LLP, Chartered Accountants, as the new Company’s Auditors.

On the financing front, the Company pursued its aggressive strategy to maintain its strong financial position and ensure good shareholder return. The $15 million private placement with Sentient is evidence of the Company’s long-term view. The President and Chief Executive Officer also continued to meet with investors throughout the period. The Company retained the services of Mr.Paul Einarson, CA, CPA, as Vice President, Finance in a permanent capacity, effective mid-May. His achievements and success are well recognized, and will undoubtedly contribute to the good management and financial wellbeing of the Company.

Finally, the Company plans to expand its community and investor communication initiatives. As of May 1rst, 2010, it has retained the services of Renmark Financial Communications Inc. to help with its investor relations activities. The Company will continue to prioritize information disclosure and transparency by organizing various meetings and information sessions with communities in the vicinity of the MATOUSH uranium PROJECT.

Use of Proceeds –in Canadian dollars

~~During~~Since ~~the~~its ~~first quarter ended March 31~~incorporation, ~~2010,~~ the Company in order to conduct exploration works on its properties used sums from proceeds obtained throughout the years by private placements, exercise of warrants or stock ~~option~~options or tax credits related to resources for a total approximate and aggregate amount $6061.7M8M of net proceeds as of June 30, 2010.

The Company conducted during the ~~first~~ second quarter of 2010 exploration works onincluding ~~the~~amortization ~~MATOUSH~~of ~~PROPERTY~~property and equipment in the total amount of $54,~~279~~734,~~088~~645 representing ~~8.60~~7,66% of the issuer’s approximate net offering proceeds, in the approximate and ~~$2,053,446~~aggregate amount of $61.8M.

-During 11the -second quarter period, the Company spent exploration related expenses, in the amounts for each property, as indicated in the following table:

on ECLAT PROPERTY representing 3.3% of the issuer’s approximate net offering proceeds in the approximate and aggregate amount of $60.7M. A summary of exploration works conducted during this reporting period on

MATOUSH property	$2,909,629
ECLAT property	$1,781,483
PACIFIC BAY-MATOUSH property	$21,238
MATOUSH EXTENSION property	$4,680
Apple property	$17,418
Mistassini Property	$196
Total	$4,734,645

~~the MATOUSH PROPERTY can be consulted in the section Item 2: Exploration work and activities of this Form 10~~-~~Q for the period ended March 31, 2010.~~11-

~~The~~Each ~~Company~~amount ~~also~~represents ~~spent~~less ~~during~~than 5% of the ~~first quarter~~issuer’s ~~period~~approximate net offering proceeds. A summary of exploration ~~related~~works ~~expenses~~conducted during this reporting period on the MATOUSH and ECLAT properties can be consulted in the ~~amount~~section Item 2: Exploration work and activities of ~~$95,494~~this onForm ~~PACIFIC BAY~~10-~~MATOUSH~~Q ~~PROPERTY,~~for ofthe ~~$20,462~~period onended ~~Mistassini~~June ~~Property~~30, ~~$10,598~~2010. onDuring the ~~MATOUSH EXTENSION~~period, ~~PROPERTY~~the ~~and~~Company also spent $3038,~~046~~241 on ~~Apple~~acquisition ~~property~~of ~~each~~properties ~~amount~~ representing less than 5 % of the issuer’s approximate net offering proceeds.

The Company’s ~~working~~investment ~~capital~~activities ~~stood~~primarily ~~at $18,411,168~~consist ~~at March 31, 2010 ($8,441,128 at December 31, 2009). This working capital includes $10,261,296~~ of ~~tax~~funds ~~credits~~used ~~receivable~~in ~~($9,306,880~~exploration atwork ~~December 31,~~and ~~2009) During~~ the ~~three-month~~addition ~~period~~of ~~ended March 31, 2010, the Company received $1,151,952 in tax credits for resources~~properties.

The Company’s ~~investment~~working ~~activities primarily~~capital ~~consist~~stood at $14,967,183 at June 30, 2010 ($8,441,128 at December 31, 2009). This working capital includes as at June 30, 2010, $12,580,355 of ~~funds~~tax ~~used~~credits receivable in ~~exploration~~the ~~work~~next ~~and~~twelve ~~the~~months ~~addition~~($9,306,880 ofat ~~mining properties~~December 31, 2009). The Company is entitled to a refundable tax credit for resources for up to 38.75% of eligible expenses, and a credit on mining duties refundable for losses of 12% of eligible expenses incurred. As ~~at March 31, 2010, the Company had such tax credits receivable for $10,261,296.~~

Of the $1814.49 million in working capital held by the Company at ~~March~~June 3130, 2010, ~~about~~approximately $1.2M0 million will be used to cover general and administrative expenses and approximately $~~17.2M~~9 million will be used to pursue the exploration programs planned for the remaining of fiscal year 2010.

Directors’ Fees – In U.S. Dollars according to Federal Reserve Statistical Release, Foreign Exchange Rates, Canada-Spot Exchange rate as at ~~March~~June 3130, 2010, Canadian$/US$: CA$1.~~0156~~0606 / US$1.00.

The external directors receive fees of $~~788~~ 754 for each board meeting ~~(BM)~~ they attend and $~~295~~282 to assist by telephone conference call ~~(BMT)~~. Each Audit, Compensation Committee member receives $~~985~~942 for each ~~Audit~~ Committee meeting ~~(AC)~~he ~~they~~or ~~attend~~she attends and $~~492~~471 to assist by telephone conference ~~call~~ ~~(ACT)~~call. The external directors receive also $~~394~~377 to assist to the annual meeting of shareholders ~~(AM)~~ whenever it occurs during the period. Misters Hébert and Lachance, directors and executive officers and Mr. Marchand do not receive directors’ fees. ~~Mr. Lanctôt who resigned as Corporate Secretary of the Company but who remains Director as of March 11, 2010 was entitled to Director’s fees.~~

The external directors received an aggregate of $614,~~697~~134 in Directors’ fees for the period between ~~January~~April 1, 2010 and ~~March~~June 3130, 2010, distributed as follows:

- 12 -

Name of Director	Dates	Attended Meetings	Amount of Director’s fees paid for the period (US $)
Robert Desjardins	May 5, 2010	Board of Directors Meeting	$754
	May 5, 2010	Audit Committee Meeting	$942
	May 27,2010	Annual Meeting of Shareholders	$377
	May 27,2010	Board of Directors Meeting	$754
Jean-Guy Masse	May 5, 2010	Board of Directors Meeting	$754
	May 5, 2010	Audit Committee Meeting	$942
	May 27,2010	Annual Meeting of Shareholders	$377
	May 27,2010	Board of Directors Meeting	$754
Marcel Bergeron	May 5, 2010	Audit Committee Meeting	$942
	May 5, 2010	Board of Directors Meeting	$754
	May 5, 2010	Compensation Committee	$942
	June 7, 2010	Compensation Committee	$942
	May 27,2010	Annual Meeting of Shareholders	$377
	May 27,2010	Board of Directors Meeting	$754
Henri Lanctôt	May 5, 2010	Board of Directors Meeting	$754
	May 5, 2010	Compensation Committee	$942
	June 7, 2010	Compensation Committee	$942
	May 27,2010	Annual Meeting Shareholders	$377
	May 27,2010	Board of Directors Meeting	$754
Total for the three month-period ended June 30, 2010			$14,134

Name of Director	Dates and attended Meetings	Amount of Director’s fees paid for the period (US $)
Robert Desjardins	March 11, 2010 AC	$985
Robert Desjardins	March 11, 2010 BM	$788
Jean-Guy Masse	January 15, 2010-BMT	$295
Jean-Guy Masse	March 11, 2010 AC	$985
Jean-Guy Masse	March 11, 2010 BM	$788
Marcel Bergeron	January 15, 2010-BMT	$295
Marcel Bergeron	March 11, 2010 AC	$985
Marcel Bergeron	March 11, 2010 BM	$788
Henri Lanctôt	March 11, 2010 BM	$788
Total for the three month-period ended March 31, 2010		$6,697

-12-

Item 4 - Submission of Matters to a Vote of Security Holders

~~There was no matter submitted to a Vote of Security Holders during the period.~~ The Company’s Annual and Special Assembly of Shareholders ~~will~~was be held at the Salon Hochelaga 4, of the Fairmont, The Queen Elizabeth Hotel, 900 René-Lévesque Blvd. West, Montreal, Québec, Canada, on May 27, 2010 at 10:30 a.m. The Management and Information Circular with proxy solicitation material were sent on or about April 30, 2010 to the Company’s shareholders of record as of April 21, 2010. The Company ~~joins~~joined as Exhibit 22, the Notice of Meeting and the Management Information Circular with its Form 10-Q for the period ended March 31, 2010.

~~Item~~The 5following matters were submitted to the vote of shareholders in person or by proxy with a total of 42,108,482 voted common shares or a percent of 34.32% ~~Other~~of ~~Information~~the 122,695,906 outstanding common shares:

OnIn ~~March~~the ~~11,~~following ~~2010~~table, the Company ~~reported~~indicates ~~on Form 8-K dated March 21, 2010,~~ the ~~appointment~~shareholders’ ofvotes ~~Mr.~~for ~~Robert~~each ~~Marchand as new director of the Company~~proposal.

In reason of the Company’s needs for specialised services in fiscal and accounting matters related to its expansion, on March 23, 2010, the Company gave notice of the Change of Auditors to Petrie Raymond, LLP, Chartered Accountants (Petrie Raymond), which were the Auditors of the Company since 2004, During the quarter, the Company reported March 31, 2010, on Form 8-K , item 4.01 as amended on April 7, 2010 on Form 8-KA1 and as amended on Form 8-KA2 on April 15, 2010.

Proposal	Number of shares voted for	Percents of votes for	Number of shares voted against	Percents of votes against	Number of shares for abstention	Percents of shares for abstention	Number of shares without vote
Election of Directors	36,645,726	95.31%	0	0%	1,805,050	4.96%	3,657,706
Appointment of Auditors and mandate to the Board of Directors to fix Auditors fees.	42,059,282	99.29%	0	0%	49,200	0.12%	0
Reconfirmation and prolongation of Shareholders’ Rights Plan for a three-year period	38,176,651	99.29%	154,425	0.40%	119,700	0.31%	3,657,706

OnNumber ~~May~~of ~~27,~~shares ~~2010,~~issued ~~the Company proposes in its Management Information Circular produced as Exhibit 22, to shareholders at the Annual~~ and ~~Special~~outstanding: ~~Meeting of Shareholders to nominate PricewaterhouseCoopers~~122, ~~LLP~~695, ~~Chartered Accountants, as the new Company’s Auditors.~~906

-Number 13of -voted shares: 42,108,482

~~Item~~Percent 6of –voted ~~Exhibits~~shares: ~~– Table of Exhibits~~34.32%

	Table of Exhibits – Form 10Q, September 30, 2009	Format	Reference to Pages of Form 10Q or Incorporation by Reference
3 (i)	Certificates of incorporation and amendments	P	See Form 10 SB/A2 Volume 1 Amended pages 1 to 10
3 (ii)	By-laws	P	See Form 10 SB/A2 Volume 1 Amended pages 37 to 59
(4) (1)	Instruments defining the rights of security holders, including indentures in By-Laws	P	See Form 10 SB/A2 Volume 1 Amended By-Laws sections 47 to 54 pages 50 to 52
(4) (2)	Instruments defining the rights of security holders, including indentures in Annex A to Certificate of incorporation (translation in English)	CE	Form 10KSB/A2, 2007-12-31 Page 79
10.1	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 ( French Language version)	CE	Form 10KSB/A2, 2007-12-31, Page 81
10.2	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 (English language summary)	CE	Form 10KSB/A2, 2007-12-31 Page 86
10.3	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008 (French language version)	CE	Form 10Q, 2009-09-30, page 11
10.4	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008( English Language summary )	CE	Form 10Q, 2008-09-30, p. 15
10.5	Amended Stock Option Plan dated November 7, 2008 ( French Language version) with Summary in English Language	CE	Form 10KSB/A2, 2007-12-31 Page 87
10.6	Amended Stock Option Plan dated November 7, 2008 (English Language summary)	CE	Form 10KSB/A2, 2007-12-31 Page 100
18	Letter re change in accounting principles	CE	Form 10-K 2008-12-31, Transmittal letter
22	Published report regarding matters submitted to vote of security holders dated May 6, 2009	CE	Form 10 Q for the period ended 2009-06- 30
22	Published report regarding matters submitted to vote of security holders dated April 22, 2010	CE	Form 10-Q for the period ended 2010-03-31
23	Letter of consent from David A. Ross, P.Geo., of Scott, Wilson, Postle Associates re Memorandum: Matoush Mineral Resource Update dated September 18, 2009	CE	Form 10-Q for the period ended 2009-09-30
24	Form FIX appointing Eaton, Peabody as Agent of the Company in the United States of America dated July 15, 2002 and certified copy of the Board of Directors dated July 15, 2002	P	Form 10 SB/A2 Volume 1 Amended page 230
24	Power of attorney	P	Form 10 SB/A2 Volume of Exhibits Amended page 232
31	Rule 13a-14 (a)/15d-14(a) Certifications	CE	Form 10 Q- for the period ended 2010-03-31
32	Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	CE	Form 10 Q- for the period ended 2010-03-31

Election of Directors

Shareholders voted in favour of the re-election 14of all directors of the Company to hold office until the next annual meeting of shareholders or until the election or appointment of their successor. The shareholders elected for the first time Mr. Robert Marchand, who had been named in a vacant position on the Board of Director on March 11, 2010, as representative of Sentient Executive GP III, Limited, following the private placement of January 27, 2010 and as reported in Form 8-K dated March 23, 2010.

~~SIGNATURES~~The Board of Directors of the Company is composed of Mr. Guy Hébert, Mr. Jean-Pierre Lachance, Mr. Jean-Guy Masse, Mr. Robert Desjardins, Mr. Marcel Bergeron, Mr. Henri Lanctôt and Mr. Robert Marchand.

InThe ~~accordance~~results ~~with~~indicate ~~the~~that ~~requirements~~36,645,726 shares were voted in favour of the ~~Securities~~ ~~Exchange~~proposition ~~Act~~or 95.31% of ~~1934~~the votes, ~~the~~none ~~registrant~~against ~~caused~~and ~~this~~a ~~report~~total tonumber beof ~~signed on~~1,805,050 ~~its~~votes ~~behalf~~were bywithheld ~~the~~or ~~undersigned,~~4.69% ~~thereunto~~of ~~duly~~the ~~authorized~~votes.

~~STRATECO~~Appointment ~~RESOURCES~~of ~~INC.~~Auditors

~~Registrant~~The shareholders appointed, PricewaterhouseCoopers, LLP, Chartered Accountants (“PricewaterhouseCoopers”), as the Company’s principal accountants to audit the annual reports for the year ending December 31, 2010. The shareholders mandated the Board of Directors to fix the Auditors’s fees until next Annual Meeting.

~~Date: May 5, 2010~~-13-

~~/s/~~The ~~Guy~~results ~~Hébert~~indicate that 42,059,282 votes were in favour of the proposition for the appointment of PricewaterhouseCoopers as Auditors or 99.29% of the votes, none against and a total number of 49,200 votes were withheld or 0.12% of the votes.

~~__________________________~~Shareholders’ Rights Plan

~~President~~The Shareholders’ Rights Plan referred to and ~~Chief~~summarized ~~Executive~~in ~~Officer~~details under Item 5 of the Management Information Circular, filed as Exhibit 22 of Form 10-Q for the period ended March 31, 2010 was reconfirmed and extended for a three-year period. The results indicate 38,176,651 votes in favour of the proposition or 99.29% of the votes, 154,425 votes against or 0.40% of the votes and 119,700 votes were withheld or 0.31% of the votes.

~~Date~~Item 5: ~~May~~Other ~~5, 2010~~Information

~~/s/~~On ~~Ingrid~~May ~~Martin~~13, C 2010, the Company filed a Form 8-K, item 5.A02 to report the coming into force on May 12, 2010 of the nomination by the Company’s Board of Directors of Mr. Paul Einarson, CA, CPA, as Vice President, Finance who is also acting as the Company’s Chief Financial Officer and Treasurer.

~~__________________________~~On June 1, 2010, the Company filed also according to Item 4.01 (b) of General Instructions of Form 8-K, and pursuant to Item 304 (a) (2) of Regulation S-K, a Form 8-K dated June 1, 2010, to report the engagement as of May 27, 2010 of the new principal accountant PricewaterhouseCoopers, LLP to audit the Company’s financial statements for the financial year ending December 31, 2010.

~~Chief Financial Officer~~-14-

Item 6 – Exhibits – Table of Exhibits

	Table of Exhibits – Form 10-Q, June 30, 2010	Format	Reference to Pages of Form 10-Q or Incorporation by Reference
3 (i)	Certificates of incorporation and amendments	P	See Form 10-SB/A2 Volume 1 Amended pages 1 to 10
3 (ii)	By-laws	P	See Form 10-SB/A2 Volume 1 Amended pages 37 to 59
(4) (1)	Instruments defining the rights of security holders, including indentures in By-Laws	P	See Form 10-SB/A2 Volume 1 Amended By-Laws sections 47 to 54 pages 50 to 52
(4) (2)	Instruments defining the rights of security holders, including indentures in Annex A to Certificate of incorporation (translation in English)	CE	Form 10-KSB/A2, 2007-12-31 Page 79
10.1	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 ( French Language version )	CE	Form 10-KSB/A2, 2007-12-31, Page 81
10.2	Amended Contract of Services between Strateco Resources Inc. and BBH Geo-Management Inc dated April 1, 2007 (English language summary)	CE	Form 10-KSB/A2, 2007-12-31 Page 86
10.3	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008 (French language version)	CE	Form 10-Q, 2009-09-30, page 11
10.4	Contract of Services between Strateco Resources Inc. and BBH Géo-Management Inc. dated August 1, 2008( English Language summary )	CE	Form 10-Q, 2008-09-30, p. 15
10.5	Amended Stock Option Plan dated November 7, 2008 ( French Language version) with Summary in English Language	CE	Form 10-KSB/A2, 2007-12-31 Page 87
10.6	Amended Stock Option Plan dated November 7, 2008 (English Language summary)	CE	Form 10-KSB/A2, 2007-12-31 Page 100
18	Letter re change in accounting principles	CE	Form 10-K 2008-12-31, Transmittal letter
22	Published report regarding matters submitted to vote of security holders dated May 6, 2009	CE	Form 10 Q for the period ended 2009-06- 30
22	Published report regarding matters submitted to vote of security holders dated April 22, 2010	CE	Form 10-Q for the period ended 2010-03-31
23	Letter of consent from David A. Ross, P. Geo., of Scott, Wilson, Postle Associates re Memorandum: Matoush Mineral Resource Update dated September 18, 2009	CE	Form 10-Q for the period ended 2009-09-30
24	Form FIX appointing Eaton, Peabody as Agent of the Company in the United States of America dated July 15, 2002 and certified copy of the Board of Directors dated July 15, 2002	P	Form 10 SB/A2 Volume 1 Amended page 230
24	Power of attorney	P	Form 10 SB/A2 Volume of Exhibits Amended page 232
31	Rule 13a-14 (a)/15d-14(a) Certifications	CE	Form 10 Q- for the period ended 2010-06-30
32	Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	CE	Form 10-Q for the period ended 2010-06-30

-15-

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

STRATECO RESOURCES INC.

Registrant

		/s/ Guy Hébert
Date: August 4, 2010
		President and Chief Executive Officer



Date: August 4, 2010		/s/ Paul Einarson, C.A., C.P.A.

		Chief Financial Officer

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